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It’s time for economic democracy
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It’s time for economic democracy

However, many points of division remain. Manipur remains unresolved, with the Kuki-Meitei divide – also a divide between Hindus and Christians – becoming increasingly intractable. The concept of “One Nation One Election” and the Waqf Bill can be very controversial. The parliamentary delimitation, which will follow the census, will create divisions in the two alliances. UP and Bihar will want delimitation to increase their political strength, while Andhra, the entire South and East will strongly oppose it. We can expect a repeat of the linguistic agitations of the 1960s if delimitation is imposed.

Economically, the emphasis on GDP and per capita income, without taking into account other human development indicators, can lead to policy formulations that will sharply increase inequalities. India’s GDP reached $1 trillion in 2010, $2 trillion in 2017, and $3 trillion in 2020. When the time comes, it will reach $5 trillion and beyond, but if a few share 4.8 trillion dollars and the rest share the rest, this is by no means a chance. sign of prosperity.

We need what we might call an “economic democracy,” focused on the well-being of our entire population rather than the continued enrichment of a privileged few. This would require a shift in thinking from per capita income and GDP as indicators of growth to indicators of human development. The 16th Finance Commission will have to carefully examine the needs of the States, suggest a mechanism to ensure that its recommendations on vertical decentralization are followed without deviation by the Center and change the parameters of horizontal decentralization so that the distribution of resources among the States is respected. is fairer.

When it comes to foreign relations, we strive to be recognized as great world leaders and resolve disputes abroad, but SAARC, which includes our closest neighbors, is still in a coma. Now that the J&K elections have taken place and democracy has been partially restored, it is probably the right time to revive SAARC and SAFTA and hold mutual discussions, which will also strengthen us on the economic front.

Helm mastery of the highest quality is necessary to guide our nation through the troubled waters that lie ahead.

(Opinions are personal)

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KM Chandrasekhar | Former cabinet secretary and author of As Good as My Word: A Memoir